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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: dot com, the Radio plus Mobile Act and on your radio.

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Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow.

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Speaker 1: This updates brought to you buy American Arbitration Association. Business

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Speaker 1: And Federal Mogul Holding's largest shareholder, activist investor carl Icon

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Speaker 1: offering to buy the rest of the auto parts maker

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Speaker 1: for seven dollars a share. Global stocks meanwhile moving lower

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Speaker 1: as investors proved underwhelmed by vacammitments to spur growth at

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Speaker 1: a meeting of a group of twenty finance chiefs, and

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Speaker 1: a cut in China's reserve acquirement ratio, Japan's end strengthening

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Speaker 1: with gold and government bonds on haven demand. We check

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Speaker 1: the markets every fifteen minutes throughout the training day on

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Speaker 1: Bloomberg SNP even A Futures down four points, Dow even

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Speaker 1: A Futures down forty two and Nasdagumn a few years

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Speaker 1: down sixteen decks in Germany's down one point two p ten,

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Speaker 1: Your treasury up three thirty seconds, the yield one point

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Speaker 1: seven five percent. Nimex crew crude oil, it'll change down

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Speaker 1: a cent to thirty two dollar seventy seven cents of

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Speaker 1: arrow comex called up one percent, or eleven dollars ninety

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Speaker 1: cents at twelve thirty two thirty an ounce the euro

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Speaker 1: dollar O eight nine to the N one twelve point

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Speaker 1: nine nine. And that's a Bloomberg business flash. Tom and Mike,

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Speaker 1: thank you very much. We're talking with Ben Emmons from

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Speaker 1: Leader Capital. There are a number of news events this

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Speaker 1: week that, now that the G twenty is over, markets

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Speaker 1: can focus on, and let's run through a couple of them.

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Speaker 1: Been a lot of people focused on tomorrow's Super Tuesday results,

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Speaker 1: but so far the markets seem to be relatively sanguine

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Speaker 1: about what's going on. That may be, according to some analysts,

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Speaker 1: because at this point nobody thinks Donald Trump could actually

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Speaker 1: win the presidency, and yet you've got Hillary Clinton likely

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Speaker 1: to be the front river for the Democratic domination, who

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Speaker 1: has made a lot of proposals that would affect business,

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Speaker 1: including financial financial firms. When does Wall Street start trading

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Speaker 1: off of who may be the next president and what

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Speaker 1: may happen. Yeah, I think that's a great question, Mike,

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Speaker 1: because if you look at what Donald Trump has said

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Speaker 1: in the past. Now, he was in a few years

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Speaker 1: ago very much about you. I'm a I'm a real

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Speaker 1: estate developer. I like cheap money. I've always loved it.

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Speaker 1: And if you think about that, then you think, well,

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Speaker 1: that's what Marcuts would probably like, right, because who doesn't

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Speaker 1: like cheap money? That was sort of a statement by him.

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Speaker 1: He was also about saying that, you know, I'm going

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Speaker 1: to cut core protection to zero, and I'm gonna first

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Speaker 1: stimulated business spending. It said, all these things are actually

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Speaker 1: I would think positive for markets. But you're right, it's

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Speaker 1: currently not clear who will be obviously the next president,

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Speaker 1: have a long way to go, but what is really

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Speaker 1: the policy from after the Obama administration from here on?

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Speaker 1: How do markets going to interpret that? Back to the

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Speaker 1: earlier discussion, if monetary policy is no longer that effective anymore,

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Speaker 1: and markets are starting to come around that idea and say, well,

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Speaker 1: that's not really going to drive market direction. Is going

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Speaker 1: to have to be fiscal policy. And I think Marcus Curney,

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Speaker 1: I'm not clear about what the direction fiscal policy will

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Speaker 1: be because we don't know who will be the president.

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Speaker 1: Clear is that probably as each let's say, hypothetically Donald

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Speaker 1: Trump gets elected or or Hillary Clinton, you would expect

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Speaker 1: it would be some fiscal stimulus coming around, because that's

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Speaker 1: the latest stimulate E call me quicker, right, So either way,

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Speaker 1: something like that would would would be in the car.

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Speaker 1: So now this political analysts who disagree with me quickly

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Speaker 1: saying like, wow, it's not possible because of Congress and

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Speaker 1: all these other hurdles. But the fact that you put

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Speaker 1: that idea out there openly saying and stimulate the economy

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Speaker 1: with fiscal stimulus will going to be picked up. I

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Speaker 1: think this rhetoric probably will start to pick up this

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Speaker 1: summer because that's when when Hilly Clinton and Donald Trump

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Speaker 1: will be out there on the on the campaign. Again,

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Speaker 1: I'm making a statement, Donald Trump will be the jup Canada.

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Speaker 1: You know, he may he may not know. It looks

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Speaker 1: like he has a lot of momentum and that that

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Speaker 1: that's uh that he will be the main person to

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Speaker 1: put the Republicans. But you would think that the radiick

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Speaker 1: about fiscal policy is going to pick up in a

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Speaker 1: couple of months from now, and and it's all about

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Speaker 1: the stimulus and how to stimulate. He comely against taking

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Speaker 1: measures such as retented has said about most streets and

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Speaker 1: about healthcare and etcetera. Let me just take a quick

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Speaker 1: break here, Tom to do that. A headline that has

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Speaker 1: just crossed Tribune Media announcing his fourth quarter results uh

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Speaker 1: and saying they are exploring their options. The company said

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Speaker 1: that they look at the splitting into various components. They

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Speaker 1: may sell off some of their real estate portfolio. Of course,

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Speaker 1: they own the Tribune Tower in Chicago, and they may

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Speaker 1: split off some of the radio television properties they have.

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Speaker 1: Maybe it shows the immediacy of the markets. It has

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Speaker 1: been a train wreck for I think Ben and Emmons.

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Speaker 1: There was a book put out years ago sold like

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Speaker 1: the Bible of Financial Domino Effect by Ben Emmons, How

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Speaker 1: to Profit Now in the VAULTI Global economy. Tell me

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Speaker 1: about the domino's falling right now? How do you link

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Speaker 1: up our global dominoes? I think for highlighting that again,

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Speaker 1: I yeah, the domino is really about the three dominoes.

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Speaker 1: Basically I talked about in that book the political domino,

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Speaker 1: economic domino, and the financial dominant linked to each other.

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Speaker 1: So I think what we're at now is that it

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Speaker 1: is the economic domino really because the global economy is weak,

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Speaker 1: em contgency evidence coming out from that, and as that happens,

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Speaker 1: financial marcus respond to that. And obviously a number of

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Speaker 1: weeks ago we've had distress in the German banking system

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Speaker 1: as a result of unclarity about whether bank itself others

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Speaker 1: could make payments on the bones they have outstanding. But

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Speaker 1: that was really resolved from the idea that the next

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Speaker 1: of interest rate environment that we're in as a result

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Speaker 1: of the economic environment that we're dealing with, are now

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Speaker 1: impacting banks and margins and banks have to lay off

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Speaker 1: people and their business models are falling, and as a result,

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Speaker 1: people are downing now about banks being able to pay

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Speaker 1: off their death until there was a policy reaction, and

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Speaker 1: that's what we saw. I think that that show we

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Speaker 1: talked with each other right at that moment that they

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Speaker 1: came out, okay, when I buy back someone that that

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Speaker 1: and then the domino briefly it off. I think that's

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Speaker 1: the that's the domino ramber in the domino of of

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Speaker 1: economic data that drives financial markets, and that leads into

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Speaker 1: further effects that's the Domino. Ben Eavons, thank you so much.

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Speaker 1: Appreciate with Leader Capital getting it started on a Monday.

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Speaker 1: Lots to talk about Michael. We will be in Washington

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Speaker 1: tomorrow FM Washington. The conversation with the chairman Chairman, I

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Speaker 1: should say, it's not the chair chair Yell Sherman Greenspan

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Speaker 1: chairman green former chairman, chairman emeritus, whatever. I am dying

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Speaker 1: to talk to him about his thoughts and the theoretical

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Speaker 1: foundation of negative interest rates. Absolutely, And the congratulations to

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Speaker 1: the folks of twelve hundred a m. Boston, actually not

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Speaker 1: to them, but to the Boston globe of people who

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Speaker 1: are listening to us. Am Um. Spotlight wins Best Picture.

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Speaker 1: It caught movie fabulously, by far and away the best

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Speaker 1: Boston movie I've ever seen. They caught it. There's a

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Speaker 1: scene at a Catholic charity late in the movie. It

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Speaker 1: was just brilliant. They just absolutely uh now, just an

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Speaker 1: extraordinary movie. Good morning to all of your Bloomberg twelve Boston,

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Speaker 1: Michael McKee and Tom Keane with the yield in two

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Speaker 1: basis points one. Bloomberg Surveillance Bloomberg Surveanced brought to you

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Speaker 1: helping you manage, protect, and invest your global cash wherever

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Speaker 1: the road to growth leads. That's the power of global connections.

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Speaker 1: Bank of America North America. Remember f D Vice